Construction is one of the major sectors of Pakistan economy, ranked second to agriculture and manufacture due to direct and indirect contribution in GDP and employment. The problem of delays in construction industry have significant impact on project performance whereas well organized projects lead to timely completion. The aim of this research is to develop a framework 1) to identify factors affecting performance of residential projects, 2) ranking the factors using Relative Importance Index(RII) and 3) examining/analyzing the significance of factors by factor analysis and regression modeling. The developed framework is the tool for analyzing and identify the impact of factors and assist construction managers to take necessary measure in reducing the delay impact. These findings will be expected to significantly contribute in improving project performance in Pakistan residential construction projects.